Listing Contacts
Kenneth Yanni
License: PA RS323884
Bart Delfiner
License: PA RS223488L
Edward Ginn
License: PA RM050201A
Asking Price
$17,232,046
Address
4433 Dewey Ave
Rochester, NY
Property Details
Asking Price
$17,232,046
Property Type
Retail
Ownership
Fee Simple
Property Description
Equity Retail Brokers is pleased to offer for sale a portfolio of Rite Aid Pharmacies located in upstate New York. All subject properties are 100% leased to Rite Aid and are operating under recently extended NN leases. The portfolio is being sold as a package, with the in-place financing.

In Conjuntion with New York Licensed Broker, Heights Properties, NY License #37KA0902779

Property Highlights
  • Portfolio includes four Rite Aid locations between Buffalo, NY and Rochester, NY.
  • Each location has approximately eight years of lease term remaining, followed by four 5-year options.
  • Average rent per square foot is $23.58, which is significantly lower than comparable drug store locations.
  • All locations are at signalized corners in dense markets, on roads with high traffic counts.
  • Properties are cross-collateralized with an attractive loan that is well below current market interest rates | Investors will receive double digit cash-on-cash returns.
  • Ideal for 1031 exchange buyers looking to leverage proceeds into multiple strong performing assets.